European banks were asked what they thought about corporate credit opportunities in the coming year given that most officials, anyway, in Europe believe everything is picking up. As Christine Lagarde, head of the ECB, is so fond of saying, Europe, European interest rate policy, inflation, the economy, everything is in a good place. Except, the answer the banking sector sent back surprised everyone and is almost certainly going to play a role in market volatility like we’ve been seeing recently.